How To Support Your Electric Business When Entering the Broadband Market

For many electric cooperatives, the idea of entering the broadband business can seem intimidating at first glance. However, there are many ways you can balance the two sides of your company without letting either one fall behind. 

As an example, take a closer look at United Fiber. In just 10 years, the subsidiary of United Electric Cooperative in Missouri has experienced a surge in demand for broadband services. It drove an 11 percent increase in subscriber signups in less than a month, fueling its growth into new communities. Differentiating with technology and data is helping United Fiber subsidize its electric business.

And that may be news to you. Did you know that electric cooperatives can actually subsidize their electric business by entering the broadband market? There are also a few other ways that you can lean on broadband to help the electric side of the house. 

How To Support Your Electric Business with Your Broadband Investment

Depending on your goals, there are several ways you can leverage your broadband investment to financially support your electric business. Here are a few examples: 

• Remote monitoring: Broadband can help electric co-ops to remotely monitor and control the electric grid, which can help reduce maintenance costs and minimize outages.

• Smart grid technologies: Broadband can support the deployment of smart grid technologies, which can help utilities better manage energy demand, reduce energy waste, and increase energy efficiency.

• Economic development: Broadband can promote economic development by attracting new businesses and industries to the region. This can create jobs and grow the population, while increasing the demand for generation and building the meter count.

• Improved operational efficiency: With broadband, electric co-ops can deploy advanced metering infrastructure, enabling them to monitor power usage and identify any issues in real time. This can help co-ops reduce downtime and quickly address any faults in the system.

• Increased reliability: Broadband can help co-ops create a more reliable and robust grid by allowing them to integrate renewable energy sources like solar and wind into the system. Broadband can also help co-ops improve system resiliency, reducing the risk of power outages and other disruptions.

• Enhanced customer experience: With broadband, electric co-ops can offer customers a more seamless and interactive experience. For example, customers can monitor their energy usage in real-time, pay bills online, and receive alerts about power outages or other issues.

By combining broadband with electric, you can provide both critical utilities to your community—and continue to be a leader for economic vitality, powerful local connectivity, and population growth. So, don’t write off broadband without taking a much closer look. You’ll find significant benefits—and many ways to make it work with your business. 

Ready to learn more truths about broadband deployment that will help demystify your challenges? Download our eBook, 10 ½ Truths About Broadband Projects for Electric Cooperatives.